Press Release

DOVEBID® ACQUIRES FAIRFIELD INDUSTRIES

Purchase of European Auction House Underscores Global Expansion of Leading B2B Webcast Auctioneer

FOSTER CITY, Calif. (June 22, 2000) - DoveBid, Inc., a leader in Webcast and online business-to-business capital asset auctions, today announced the acquisition of Fairfield Industries B.V., a Netherlands-based auction firm specializing in negotiated and private treaty sales.

Fairfield Industries is a pan-European firm that has auctioned hundreds of millions of dollars' worth of machinery and equipment in Belgium, Germany, Luxembourg, the Netherlands, Switzerland and the United Kingdom. Through this acquisition, DoveBid strengthens its presence in Europe and adds a portfolio of Fairfield clients that includes Case Germany, Clark Equipment, John Deere Germany, Stork Wärtsilä Diesel and Von Roll AG.

"DoveBid's core philosophy is that the purchase and sale of capital assets needn't be limited by geographic boundaries or the physical location of bidders," said Ross Dove, DoveBid Chairman and Chief Executive Officer. "In order to compete in the increasingly interwoven world markets, B2B auctioneers like DoveBid must have a global presence. The acquisition of Fairfield highlights our drive toward worldwide leadership in online capital asset auctions."

Added Robert Levy, President of DoveBid International, "Fairfield Industries' experience and reputation as capital asset auctioneers and liquidators are unparalleled in Europe. This acquisition will allow us to better serve our multi-national customers who require online auction capability across continents."

Robert Bouland, formerly Chief Executive Officer of Fairfield Industries, will join DoveBid as President of DoveBid Europe. He stated, "DoveBid's strength in Webcast and online auctions has already made them the clear leader in the B2B auction space in the United States. We can now combine DoveBid's technology expertise and market momentum with Fairfield's European presence to stake out a strong position in the European B2B auction arena as well. We welcome the opportunity to join forces with DoveBid as it establishes itself as the leading online capital asset firm worldwide."

About DoveBid
DoveBid, Inc. is a leader in Webcast and online business-to-business capital asset auctions and valuation services. With millions of dollars of business assets available at DoveBid's Website, a regular schedule of Webcast auctions, an extensive base of large corporate customers, and an array of value-added services, DoveBid is creating a liquid, global market for capital assets. Headquartered in Foster City, Calif., DoveBid has more than a dozen corporate and partner offices throughout the United States, Europe and Asia. For more information, visit DoveBid at http://www.dovebid.com or call company headquarters at (800) 665-1042 or (650) 571-7400. DoveBid and the DoveBid logo are trademarks of DoveBid, Inc.

Contacts:
Daphne Li
Vice President of Corporate Strategy & Corporate Marketing
DoveBid, Inc.
(650) 571-7400 x682
dli@dovebid.com

Lisa Hawes (for media inquiries)
Sr. Account Executive
Sterling Communications
(408) 441-4100
lhawes@sterlingpr.com



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